The pressures on the Stock Exchange are intensifying

The pressures are currently increasing on the Athens Stock Exchange, which not only gave up trying to break through its resistances, but is now under strong pressure, especially in banking securities.

In particular, the General Index recorded losses of 0.82% at 796.66 points, while the turnover is at 21.9 million euros and the volume at 8.4 million pieces. The FTSE 25 also fell by 0.85%, at 1,906.32 points, while the banking index lost 2.19% at 456.90 points.

The pressures on specific titles and with low turnover is the picture that now prevails in Athens Street, with the General Index again folding after the morning “visit” to 808 units. While it has some supports, they do not appear to be capable of driving the market higher, a move it needs in order not to undo its recent uptrend.

Of course, expectations were very low for the strength of the morning’s movement, as traders remain extremely cautious about where they position themselves and what risk they add to their portfolios, given that the degree of uncertainty is very high. After all, no one yet knows what the impact of energy costs will be on businesses and consumers, and on the economy as a whole, even if the Commission today raised its estimates for Greece’s growth performance this year.

In particular, the Commission proceeded with a significant upward revision of growth, which is expected to reach 4% this year, and of annual inflation, which is expected to reach 8.9%, as part of its summer forecasts. More important, however, is the revision of the annual inflation forecast for next year which is expected to reach 3.5% from 1.9% predicted in the spring estimates. This is an indication that high fuel and food prices will continue to weigh on households and businesses throughout the coming year.

On the dashboard

On the board now, Alpha Bank is losing 3.17%, with Jumbo, ADMIE and Ethniki following with losses of more than 2%, and Lambda, Mytileneos, Terna Energy, Motor Oil, Aegean, Titan, Quest and Eurobank scoring down more than 1%.

Hellenic Petroleum, GEK Terna, Piraeus, PPC, Ellactor and Sarantis are slightly down, with Biohalco unchanged. On the contrary, ELHA, OTE, Coca Cola and EYDAP are moving slightly upwards, with OPAP at +1.85% and PPA at +2.36%.